TD Securities Cuts Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target to C$20.00

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective reduced by analysts at TD Securities from C$21.00 to C$20.00 in a report issued on Wednesday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 32.54% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Scotiabank lowered their target price on shares of Minto Apartment Real Estate Invt Trust from C$19.25 to C$18.75 and set a “sector perform” rating for the company in a report on Monday, March 25th. Raymond James raised their price target on shares of Minto Apartment Real Estate Invt Trust from C$20.25 to C$21.25 and gave the company an “outperform” rating in a research report on Friday, March 8th. Royal Bank of Canada raised their price target on shares of Minto Apartment Real Estate Invt Trust from C$22.00 to C$22.50 and gave the company an “outperform” rating in a research report on Friday, March 8th. Desjardins raised their price target on shares of Minto Apartment Real Estate Invt Trust from C$19.50 to C$21.00 and gave the company a “buy” rating in a research report on Friday, March 8th. Finally, Canaccord Genuity Group raised their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.50 to C$20.00 and gave the company a “buy” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$19.98.

Minto Apartment Real Estate Invt Trust Price Performance

MI.UN stock opened at C$15.09 on Wednesday. The firm has a 50 day moving average price of C$16.16 and a 200-day moving average price of C$15.55. Minto Apartment Real Estate Invt Trust has a 52-week low of C$12.81 and a 52-week high of C$17.89. The firm has a market capitalization of C$602.09 million, a price-to-earnings ratio of -5.17 and a beta of 1.18. The company has a debt-to-equity ratio of 107.96, a quick ratio of 0.04 and a current ratio of 1.16.

About Minto Apartment Real Estate Invt Trust

Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Ottawa, Calgary and Edmonton.